Citi upgrades ‘reborn’ Carter’s to Buy on CEO changes

Citi upgraded Carter’s (CRI) to Buy from Neutral with a price target of $50, up from $34. The firm sees a favorable risk/reward for the shares due to the changes made by new CEO Doug Palladini. Carter’s comps turned positive in 2025 and it is now see showing signs of pricing power, the analyst tells investors in a research note. Citi calls the company “reborn” and sees a turnaround story for Carter’s in 2026